1978 (11) TMI 88 - AT - Income Tax

Summary

The Revenue appealed against the AAC's order deleting an addition of Rs. 7,869 for interest on delayed payment of sales-tax. The ITAT Gauhati upheld the AAC's decision, stating that the interest payment was a business expenditure and not a penalty. The appeal was dismissed. (Case: Appellate Tribunal ITAT GAUHATI, Citation: 1978 (11) TMI 88 - ITAT GAUHATI)